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RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ALE
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Allete Inc stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Apr 29, 2024)

Buy or Hold candidate since Apr 18, 2024 Gain 1.56% PDF

The Allete Inc stock price gained 0.644% on the last trading day (Monday, 29th Apr 2024), rising from $59.02 to $59.40. During the last trading day the stock fluctuated 0.93% from a day low at $59.33 to a day high of $59.88. The price has risen in 6 of the last 10 days and is up by 2.8% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 170 thousand shares were bought and sold for approximately $10.10 million.

The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.50% during the next 3 months and, with a 90% probability hold a price between $58.52 and $62.59 at the end of this 3-month period.

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ALE Signals & Forecast

The Allete Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $59.63. On a fall, the stock will find some support from the long-term average at approximately $58.83. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star

The stock had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Allete Inc stock

Allete Inc finds support from accumulated volume at $58.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.550 between high and low, or 0.93%. For the last week the stock has had daily average volatility of 1.20%.

Our recommended stop-loss: $56.73 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (ALE) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Allete Inc to open at $59.54, and during the day (based on 14 day Average True Range), to move between $58.41 and $60.39, which gives a possible trading interval of +/-$0.99 (+/-1.66%) up or down from last closing price. If Allete Inc takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $59.64 (0.40%) than the support at $58.33 (1.80%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Allete Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Allete Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.166 Buy Candidate Upgraded

Predicted Opening Price for Allete Inc of Tuesday, April 30, 2024

Fair opening price April 30, 2024 Current price
$59.54 ( 0.230%) $59.40

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ALE

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 60.09 1.16 %
R2 59.88 0.80 %
R1 59.75 0.584 %
Current price: 59.40
Support S1 59.33 -0.124 %
S2 59.20 -0.342 %
S3 58.99 -0.696 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 60.44 1.75 %
R2 59.96 0.94 %
R1 59.64 0.404 %
Current price 59.40
Support S1 58.33 -1.80%
S2 57.87 -2.58%
S3 57.75 -2.78%

ALE Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 14, 2024 May 14, 2024 May 14, 2024 $0 0%
2 Jan 26, 2024 Feb 14, 2024 Mar 01, 2024 $0.705 1.25%
3 Nov 14, 2023 Nov 14, 2023 Dec 01, 2023 $0.678 1.21%
4 Jul 31, 2023 Aug 14, 2023 Sep 01, 2023 $0.678 1.23%
5 Apr 27, 2023 May 12, 2023 Jun 01, 2023 $0.678 1.17%

FAQ

What is the symbol for Allete Inc Stock and on which exchange is it traded?
The symbol for Allete Inc is ALE and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Allete Inc Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Allete Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Allete Inc Stock?
Allete Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Allete Inc Stock.

What's the current price of Allete Inc Stock?
As of the end of day on the Apr 29, 2024, the price of an Allete Inc (ALE) share was $59.40.

What is the 52-week high and low for Allete Inc Stock?
The 52-week high for Allete Inc Stock is $63.71 and the 52-week low is $49.29.

What is the market capitalization of Allete Inc Stock?
As of the Apr 29, 2024, the market capitalization of Allete Inc is 3.425B.

When is the next earnings date for Allete Inc?
The upcoming earnings date for Allete Inc is May 09, 2024.
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About Allete Inc

Allete ALLETE, Inc. operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. The company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well a... ALE Profile

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